Who needs television when we've got the world's greatest reality show flickering and bickering before our eyes?

The knee jerk reaction out of the gate? A rally attempt, which was the easy trade. I tried to play along and buy 25,000 AIG (AIG) at $1.60 for a quick and dirty schnitzel but alas, my order was bounced from the system. I would have, so you know, taken the buck and "gone home' on the "easy" trade.

Dusting off my uniform and taking a look around? We'll likely see another probe lower as buying the opening and riding a reversal is likely too easy.

The difference between loss and loss. Just as I was preparing for this dogfight of a day, I received word that a fraternity brother of mine, John Amodei, passed away. He is survived by his wife, two children, parents and brother. It was a sober and somber reminder that for all we do and as hard as we try, life is a fragile blessing. Rest in peace my brother, in Tau Kappa Phi.

Wake up to find out that you are the eyes of the world... - 10:52 am

Please note that the opening gaps in the mainstay averages have now been filled.

If there is one "easy" trade each day, that knee jerk gap fillage was it.

FOMC days are typically a tale of two tapes with 2:15 EST as the toggle.

Whatever it takes, right? Even if that means five times the effort for half the gains.

Other than Merrill (MER), who is exposed to Lehman Brothers (LEH) counter-party risk? It's not a single answer--that's the devil of derivative dominoes, they fragment and spread in multiple directions.

One more thing--where, pray tell, is the consortium of banks coming up with $70 billion dollars? I understand that it's a function of "need" but I'm asking the question through the lens of supply/demand.

Lot's going on, lemme get this out so I can shift my attention to the next pile of "to do's." Deep breath, Minyans, to get through this we must go through this.

East is East and West is West, and never the Twain Shall Meet... - 12:31 pm

What have I done since my most frustrating morning miss in AIG (AIG)? Not a whole heckuva lot (as far as trading is concerned). That was the easy trade and I learned a long time ago that trying to make up for lost ground is a recipe for getting buried beneath it.

Another conference call? Hit me again Ike, and this time put some STANK on it.